New Launch21 May 2025, 07:21 pm
REC Ltd Subsidiaries Incorporated for Transmission Projects in Karnataka
AI Summary
REC Ltd, a leading power sector company, has announced the incorporation of three wholly owned subsidiaries under its arm REC Power Development and Consultancy Limited. The subsidiaries, Hampapura Power Transmission Limited, Sharavathi Power Transmission Limited, and Ryapte Power Transmission Limited, have been incorporated to manage transmission projects in Karnataka, India. These subsidiaries will be responsible for establishing 400 KV substations and associated transmission lines, and evacuation schemes for proposed pumped storage plants and solar parks.
Key Highlights
- REC Ltd has incorporated three new subsidiaries under REC Power Development and Consultancy Limited.
- The subsidiaries, Hampapura Power Transmission Limited, Sharavathi Power Transmission Limited, and Ryapte Power Transmission Limited, have been incorporated for managing transmission projects in Karnataka, India.
- The projects include establishing 400 KV substations and associated transmission lines, and evacuation schemes for proposed pumped storage plants and solar parks.
- The subsidiaries are wholly owned by REC Limited and are related parties as per the Companies Act, 2013.
- The acquisition is not a related party transaction and the promoter/promoter group/group companies do not have any interest in the entities except to the extent of their shareholding.